Point72 Asset Management L.P. Buys New Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Point72 Asset Management L.P. purchased a new position in Qifu Technology, Inc. (NASDAQ:QFIN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 165,100 shares of the company’s stock, valued at approximately $4,922,000. Point72 Asset Management L.P. owned 0.10% of Qifu Technology at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in QFIN. Ashton Thomas Private Wealth LLC bought a new position in shares of Qifu Technology during the second quarter worth $31,000. Blue Trust Inc. lifted its stake in Qifu Technology by 598.4% in the 2nd quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock worth $32,000 after purchasing an additional 1,484 shares in the last quarter. USA Financial Formulas bought a new position in shares of Qifu Technology during the 3rd quarter valued at about $41,000. Venturi Wealth Management LLC purchased a new position in shares of Qifu Technology during the third quarter valued at about $54,000. Finally, Signaturefd LLC grew its position in shares of Qifu Technology by 67.3% during the second quarter. Signaturefd LLC now owns 7,283 shares of the company’s stock valued at $144,000 after purchasing an additional 2,931 shares in the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qifu Technology Stock Performance

NASDAQ QFIN opened at $36.83 on Monday. The stock has a 50 day moving average price of $33.42 and a 200-day moving average price of $25.92. Qifu Technology, Inc. has a one year low of $13.71 and a one year high of $38.69. The company has a market capitalization of $5.94 billion, a P/E ratio of 7.46, a P/E/G ratio of 0.31 and a beta of 0.64.

Analyst Upgrades and Downgrades

Separately, Citigroup boosted their target price on Qifu Technology from $31.44 to $37.50 and gave the stock a “buy” rating in a research report on Thursday, November 21st.

About Qifu Technology

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.